Brokerages Expect Elanco Animal Health (NASDAQ:ELAN) Will Post Earnings of $0.26 Per Share

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Wall Street brokerages forecast that Elanco Animal Health (NASDAQ:ELAN) will report earnings of $0.26 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Elanco Animal Health’s earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at $0.25. Elanco Animal Health reported earnings of $0.29 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 10.3%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Elanco Animal Health will report full-year earnings of $1.08 per share for the current financial year, with EPS estimates ranging from $1.06 to $1.10. For the next year, analysts anticipate that the company will report earnings of $1.26 per share, with EPS estimates ranging from $1.23 to $1.30. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Elanco Animal Health.

Elanco Animal Health (NASDAQ:ELAN) last issued its earnings results on Tuesday, August 13th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. The company had revenue of $781.60 million during the quarter, compared to analyst estimates of $781.49 million. The business’s revenue for the quarter was up 1.5% on a year-over-year basis.

A number of equities analysts recently issued reports on the company. Guggenheim assumed coverage on Elanco Animal Health in a report on Wednesday, May 22nd. They issued a “neutral” rating on the stock. Zacks Investment Research downgraded Elanco Animal Health from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. UBS Group upgraded Elanco Animal Health from a “sell” rating to a “neutral” rating and lowered their price target for the company from $31.00 to $30.00 in a report on Thursday. Finally, BMO Capital Markets lifted their price target on Elanco Animal Health from $32.00 to $35.00 and gave the company a “market perform” rating in a report on Friday, May 10th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $33.72.

Several hedge funds have recently modified their holdings of ELAN. Ropes Wealth Advisors LLC purchased a new position in shares of Elanco Animal Health during the first quarter valued at $25,000. Sterling Investment Advisors Ltd. purchased a new position in shares of Elanco Animal Health during the first quarter valued at $25,000. Water Island Capital LLC purchased a new position in shares of Elanco Animal Health during the first quarter valued at $27,000. FTB Advisors Inc. purchased a new position in shares of Elanco Animal Health during the first quarter valued at $29,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of Elanco Animal Health during the second quarter valued at $32,000.

Shares of NASDAQ ELAN traded up $0.17 during mid-day trading on Friday, reaching $29.36. The company had a trading volume of 3,456,000 shares, compared to its average volume of 5,779,885. The company has a 50-day moving average price of $32.76 and a two-hundred day moving average price of $31.92. Elanco Animal Health has a 1-year low of $28.00 and a 1-year high of $37.61.

About Elanco Animal Health

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Earnings History and Estimates for Elanco Animal Health (NASDAQ:ELAN)

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